BlackBerry Limited (NYSE:BB) Sees Large Growth in Short Interest

BlackBerry Limited (NYSE:BB) saw a significant growth in short interest in March. As of March 31st, there was short interest totalling 47,870,000 shares, a growth of 10.6% from the March 15th total of 43,290,000 shares. Based on an average daily trading volume, of 10,050,000 shares, the short-interest ratio is currently 4.8 days. Currently, 8.3% of the shares of the stock are sold short.

Insider Buying and Selling at BlackBerry

In related news, Director Philip G. Brace purchased 35,000 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were bought at an average price of $2.79 per share, with a total value of $97,650.00. Following the completion of the acquisition, the director now owns 35,000 shares of the company’s stock, valued at $97,650. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.94% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On BlackBerry

Several hedge funds have recently bought and sold shares of BB. Optiver Holding B.V. acquired a new stake in shares of BlackBerry in the third quarter valued at about $25,000. GHP Investment Advisors Inc. acquired a new stake in shares of BlackBerry in the third quarter valued at about $28,000. Highlander Capital Management LLC grew its position in shares of BlackBerry by 77.8% in the fourth quarter. Highlander Capital Management LLC now owns 8,000 shares of the company’s stock valued at $28,000 after purchasing an additional 3,500 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of BlackBerry in the fourth quarter valued at about $36,000. Finally, Creative Planning acquired a new stake in shares of BlackBerry in the fourth quarter valued at about $37,000. 54.48% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on BB. TD Securities reduced their target price on BlackBerry from $4.00 to $3.75 and set a “hold” rating for the company in a report on Thursday, December 21st. Canaccord Genuity Group reduced their target price on BlackBerry from $5.00 to $4.25 and set a “hold” rating for the company in a report on Thursday, December 21st. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $3.00 price target on shares of BlackBerry in a research note on Thursday, April 4th. Robert W. Baird dropped their price target on shares of BlackBerry from $4.50 to $3.50 and set a “neutral” rating on the stock in a research note on Wednesday, February 14th. Finally, Raymond James dropped their price target on shares of BlackBerry from $7.00 to $6.50 and set a “market perform” rating on the stock in a research note on Thursday, December 21st. One analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $4.08.

BlackBerry Trading Down 1.4 %

BlackBerry stock opened at $2.72 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.43 and a quick ratio of 1.43. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of -11.33 and a beta of 1.41. BlackBerry has a one year low of $2.46 and a one year high of $5.75. The company’s fifty day moving average price is $2.79 and its two-hundred day moving average price is $3.30.

BlackBerry (NYSE:BB) last posted its earnings results on Wednesday, April 3rd. The company reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.06. The firm had revenue of $173.00 million for the quarter, compared to the consensus estimate of $150.47 million. BlackBerry had a negative net margin of 15.24% and a negative return on equity of 0.24%. The business’s quarterly revenue was up 14.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.04) earnings per share. On average, analysts forecast that BlackBerry will post -0.09 earnings per share for the current fiscal year.

BlackBerry Company Profile

BlackBerry Limited provides intelligent security software and services to enterprises and governments worldwide. The company operates through three segments: Cybersecurity, IoT, and Licensing and Other. The company offers CylancePROTECT, an endpoint protection platform and mobile threat defense solution; CylanceOPTICS, an endpoint detection and response solution; CylanceGUARD, a managed detection and response solution; CylanceGATEWAY, an AI-empowered zero-trust network access solution; CylancePERSONA, a user and entity behavior analytics solution; BlackBerry unified endpoint management, a central software component for secure communications platform; BlackBerry Dynamics, a development platform and secure container for mobile applications; and BlackBerry Workspaces solutions.